Insurance regulators set hearing in Bay area

The Florida Office of Insurance Regulation has scheduled a public hearing Aug. 11 in the Bradenton area to compile testimony on commercial insurance problems faced by Florida businesses.

The hearing is the latest effort by regulators to gauge the scope and nature of a burgeoning commercial insurance crisis in the state, according to a release.

An online poll conducted by the Office of Insurance Regulation found that of the 1,900 respondents, 42 percent were either cancelled or non-renewed by their insurer in the last six months. Thirty-two percent were able to secure new coverage but with generally much higher rates, less coverage or both. Some respondents said they might relocate their businesses to other states, due to insurance difficulties.

Regulators currently are drafting a rule to create an association to help provide commercial property coverage if enough businesses appeal to the state because they cannot access adequate insurance.

The hearing is scheduled for 4-6 p.m. Aug. 11 at the Holmes Beach City Hall, 5801 Marina Drive, Holmes Beach.

Interested parties who cannot attend can submit written testimony to the Office of Insurance Regulation by e-mail at ratehearings@fldfs.com. The e-mail should have "Bradenton Town Hall" in the subject line.